Nigeria, Africa’s largest economy and biggest oil producer, is facing a looming climate crisis that could cost it $100 billion a year and derail its development, according to a new report by an Abuja-based think tank.
The report, released by Agora Policy ahead of the UN Climate Change Conference (COP 28) in Dubai later this month, says that Nigeria is already experiencing the adverse effects of climate change, such as desertification, flooding, erosion, and water scarcity.
These impacts are threatening the country’s food security, infrastructure, health, and social stability and exacerbating poverty, inequality, and conflict, the report warns.
The report estimates that Nigeria loses at least $100 billion annually to the effects of climate change and that the country may lose trillions of dollars in manufacturing, construction, and oil and gas assets that could become stranded as the world shifts to a low-carbon and green economy.
“Nigeria risks becoming a stranded country,” the report states. “Climate change has the potential to jeopardise Nigeria’s economic development further and alter its geographical, social and political trajectory for decades.”
The report urges the Nigerian government and other stakeholders to give climate change greater and more urgent attention to embrace the opportunities offered by the green economy and pursue a climate-compatible development path.
The report suggests possible actions, such as investing in renewable energy and energy efficiency, promoting climate-smart agriculture, embracing green manufacturing, harnessing natural resources for adaptation, and enhancing disaster risk reduction systems.
“Leveraging climate action to pursue economic development in Nigeria is not only a viable but an essential strategy,” the report says.
The report also calls for more collaboration and coordination among different levels and sectors of government, as well as with the private sector, civil society, and international partners, to ensure effective and inclusive climate governance.
The report is based on extensive research and consultations with experts, policymakers, and practitioners from various fields and regions of Nigeria. It aims to provide evidence-based analysis and recommendations to inform and influence the country’s climate policy and action.
The report comes at a critical time as Nigeria prepares to participate in COP 28, where world leaders are expected to raise their ambition and commitment to tackle the global climate emergency.
Nigeria, a signatory to the Paris Agreement, has pledged to reduce its greenhouse gas emissions by 20% by 2030, compared to a business-as-usual scenario, and by 45% if it receives adequate support from the international community.
The report says that Nigeria has the potential to achieve and exceed its climate targets while also advancing its economic and social development goals if it adopts a holistic and transformative approach to climate action.
The report also highlights the role of Nigeria as a regional and continental leader and urges the country to use its influence and voice to advocate for a fair and ambitious global climate deal that reflects the needs and aspirations of Africa and other developing countries.
The report is part of a series of publications and events by Agora Policy to raise awareness and stimulate dialogue on climate change and development issues in Nigeria and beyond.
The think tank will host a policy discussion on “Nigeria, Climate Change, and the Green Economy” in Abuja on November 22 as part of the country’s buildup to COP 28.
The event will feature keynote speakers and panellists from the government, academia, private sector, civil society, and media, who will share their insights and perspectives on the challenges and opportunities of climate action for Nigeria.
The event will also serve as a platform for launching the report and engaging with a wider audience of stakeholders and decision-makers.
The report and the event are supported by the MacArthur Foundation, a global philanthropic organization that works to advance a more just, inclusive, and sustainable world.
The report is available for download on the Agora Policy website.
Source: Zawya
